#Cryptocurrency Holding Restrictions for South Korean Public Officials to Be Re-evaluated#

The South Korean government recently requested all government agencies to re-evaluate the implementation of restrictions on cryptocurrency holdings by public officials and submit reports by January 31. This move stems from concerns that public officials may use their positions to gain access to cryptocurrency information and engage in trading. The Ministry of Personnel Management specifically emphasized that not only agencies dealing with virtual asset policies, drafting and enforcing regulations, but also those involved in promoting economic and industrial policies, could be subject to restrictions on accessing virtual asset information. This move signifies that the South Korean government will impose stricter regulations on cryptocurrency holdings by public officials and may further refine relevant policies to prevent conflicts of interest and abuse of power.